July 22, 2021
AkzoNobel says it has become the first paints and coatings company to follow up on its commitment to setting science-based sustainability targets by announcing carbon reduction targets for the full value chain.
The company has aligned its own sustainability ambitions with the Paris agreement, which aims to limit global warming and ensure that global temperature rise does not exceed 1.5 C above pre-industrial levels.
AkzoNobel’s target is to reduce carbon emissions for the whole value chain 42 percent by 2030 (baseline 2020). This will apply to the company’s own operations, as well as its partners, such as customers and suppliers. Currently being officially validated by the Science Based Targets initiative (SBTi), the target will further sharpen and accelerate the company’s vision for its own People. Planet. Paint. approach to sustainable business, which was launched in 2019.
“Setting a target like this really matters,” says AkzoNobel CEO, Thierry Vanlancker. “It’s a clear signal that we’re preparing to mobilize our teams globally and take stronger action to tackle climate change. We need to act fast and focus on collaboration and innovation. When push comes to shove, there are those who contribute towards a zero carbon future and those who don’t. We’re determined to do all we can and set the example by being the frontrunner in our industry.”
AkzoNobel says it has already taken strides forward with its approach and is ahead of target on two key environmental ambitions – halving its own carbon emissions and using 100 percent renewable electricity in the company’s operations by 2030. It was recently announced the company would operate only on renewable electricity in Europe by 2022.